Swiss National Bank Grows Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Swiss National Bank raised its stake in shares of Procore Technologies, Inc. (NYSE:PCOR – Get Rating) by 2.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 66,000 shares of the company’s stock after buying an additional 1,700 shares during the period. Swiss National Bank’s holdings in Procore Technologies were worth $3,114,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PCOR. Jump Financial LLC increased its stake in shares of Procore Technologies by 72.0% in the 3rd quarter. Jump Financial LLC now owns 78,076 shares of the company’s stock valued at $3,863,000 after purchasing an additional 32,676 shares in the last quarter. Bessemer Group Inc. purchased a new stake in shares of Procore Technologies during the 3rd quarter valued at approximately $294,000. Russell Investments Group Ltd. purchased a new stake in shares of Procore Technologies during the 3rd quarter valued at approximately $653,000. Verition Fund Management LLC purchased a new stake in Procore Technologies in the third quarter valued at approximately $282,000. Finally, Freemont Management S.A. purchased a new stake in Procore Technologies in the third quarter valued at approximately $297,000. Hedge funds and other institutional investors own 82.50% of the company’s stock.

Insider Activity at Procore Technologies

In related news, SVP William Fred Fleming, Jr. sold 2,119 shares of the firm’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $64.25, for a total value of $136,145.75. Following the completion of the sale, the senior vice president now owns 62,870 shares in the company, valued at $4,039,397.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP William Fred Fleming, Jr. sold 2,119 shares of the firm’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $64.25, for a total value of $136,145.75. Following the completion of the sale, the senior vice president now owns 62,870 shares in the company, valued at $4,039,397.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP William Fred Fleming, Jr. sold 4,000 shares of Procore Technologies stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $67.08, for a total transaction of $268,320.00. Following the sale, the senior vice president now owns 59,870 shares of the company’s stock, valued at $4,016,079.60. The disclosure for this sale can be found here. Insiders sold a total of 185,890 shares of company stock worth $11,404,126 over the last 90 days. Company insiders own 40.00% of the company’s stock.

Procore Technologies Stock Performance

NYSE PCOR opened at $58.50 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.04. Procore Technologies, Inc. has a 52-week low of $40.00 and a 52-week high of $68.56. The business’s 50-day moving average price is $56.52 and its 200 day moving average price is $55.10. The firm has a market cap of $8.22 billion, a P/E ratio of -28.96 and a beta of 0.55.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Mizuho cut their target price on Procore Technologies from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, April 17th. KeyCorp reduced their price objective on Procore Technologies from $86.00 to $76.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 19th. JMP Securities restated a “market outperform” rating and issued a $75.00 price target on shares of Procore Technologies in a research note on Monday, April 17th. Barclays raised their price objective on Procore Technologies from $61.00 to $72.00 in a report on Friday, February 17th. Finally, Oppenheimer raised their price objective on Procore Technologies from $60.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, February 17th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

About Procore Technologies

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Procore Technologies, Inc provides a cloud-based construction management platform and related software products in the United States and internationally. The company's platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Management, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.